Portfolio Overview

As at 30 Sep 2025

10 largest holdings

(% of total investments)

  • Sumitomo Mitsui Financial Group 6.7%
  • Mitsubishi UFJ Financial Group 6.3%
  • Tokyo Electron Ltd 5.5%
  • Tokio Marine Holdings Inc 5.3%
  • Shin-Etsu Chemical Co Ltd 4.4%
  • Mitsubishi Corp 4.2%
  • Retail Trade 5.8%
  • Sumitomo Mitsui Trust 3.7%
  • Hoya Corp 3.6%
  • Keyence Corp 3.5%
  • Electrical Appliances 25.1%
  • Banks 16.7%
  • Insurance 8.2%
  • Wholesale 7.5%
  • Chemicals 7.2%
  • Machinery 6.6%
  • Retail Trade 5.8%
  • Precision Instruments 5.6%
  • Other Financing Business 5.5%
  • Services 5.0%

Portfolio Characteristics

Portfolio

TOPIX

P/B

2.2x

1.7x

ROE

12.8%

9.8%

P/E

17.9x

17.2x

Gross Profit Margin

36.4%

26.6%

Operating Profit Margin

16.0%

9.3%

Net Income Margin

12.0%

6.8%

FCF Yield (ex. financials)

3.4%

3.8%

Dividend Yield1

2.5%

2.1%

Active Share

76.2%

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Portfolio Turnover (3-Yr Avg)2

19.3%

—

Sources: Chikara, Frostrow, & Bloomberg; figures shown as of 29 August 2025; all numbers are ungeared

1) Ungeared yield on the ungeared Nav; 2) Average of the last 3 calendar years

Breakdown by Classification (%)

  • Dividend Growth (29 holdings)
  • Special Situations (5 holdings)
  • Stable Yield (7 holdings)

Breakdown by Market Cap (%) TOPIX

  • Large Cap ($10bn+) 77
  • Mid Cap ($2–10bn) 16
  • Small Cap (<$2bn) 7

Breakdown by Market Cap (%) FUND

  • Large Cap ($10bn+) 63
  • Mid Cap ($2–10bn) 15
  • Small Cap (<$2bn) 22